Sunway Construction secures RM1.15 bil new work orders, lifts order book to RM6.9 bil
KUALA LUMPUR (Feb 26): Sunway Construction Group Bhd (KL:SUNCON) has secured new work orders totalling RM1.
KUALA LUMPUR (Feb 26): Sunway Construction Group Bhd (KL:SUNCON) has secured new work orders totalling RM1.
KUALA LUMPUR (Feb 25): Sunway Construction Group Bhd (KL:SUNCON) rose to new record highs on Tuesday after the builder reported a set of results that exceeded market expectations.
KUALA LUMPUR (Feb 24): Sunway Construction Group Bhd (KL:SUNCON) has declared a fourth interim dividend of nine sen per share, lifting its total dividend for the year to a record-high 50.
SunCon did not disclose further details on the awarding party or the project locations.
Under the contract, the multinational corporation has the option, but not the obligation, to award the mechanical and engineering fit-out works to SCSB, subject to finalisation of the project contract.
The property development segment reported a revenue of RM380.
The strong quarterly performance also boosted its nine-month results to a record high, with net profit more than doubling to RM243.
The move, which forms part of an intra-group restructuring exercise, will allow SunCon to streamline operations and sharpen its focus on core construction and related services, SunCon said.
Sunway Construction retains the discretion to postpone or defer the project, or any portion of it, by up to six months.
"Even so, given its strong brand equity and parentage, we think SunCon will be able to recover from this event without impacting its new order wins materially over the longer term.